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Global automotive airbag market: 8.3% CAGR growth expected between 2012-16

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Global Automotive Airbag Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-18 14:19:02
The Global Automotive Airbag market is to grow at a CAGR of 8.31percent over the period 2012-2016. The rapid growth of the Global Automotive Safety Systems market is one of the key factors contributing to the growth of Global Automotive Airbag market. The Global Automotive Airbag market has also been witnessing the increasing demand for automotive airbags from the BRIC countries. However, functional and operational issues could pose a challenge to the growth of this market.

One of the main trends witnessed in the Global Automotive Airbag market is the increasing demand from the BRIC countries. Since the market for airbag systems in developed regions is maturing and becoming saturated, OEMs and suppliers are focusing on developing and emerging markets. The steady economic growth in the BRIC countries is expected to be one of the major drivers of the growth of the Global Automotive Airbag market in the next few years. The continuous economic growth in the BRIC countries has improved the financial status of the people in these countries, which in turn is leading to an increase in the per capita income of the population. This has increased the demand for automobiles in these countries, increasing the demand for safety systems.

One of the main factors driving the market is the growth of the Global Automotive Safety Systems market. Safety systems help prevent vehicle accidents during critical situations and protect passengers from injury. Various active safety systems and passive safety systems are being increasingly used in automobiles, as passenger safety has become a prime concern for all; this is propelling the growth of the Global Automotive Airbag market.

One of the main challenges is the functional and operational issues. There are several product-related issues regarding the failure of airbags in critical situations. There have been instances when the sensors failed during an accident, resulting in the failure of the airbag to open.

The key vendors dominating this space include Autoliv Inc., Delphi Automotive plc, Takata Corp., and TRW Automotive Holdings Corp.

The other vendors mentioned are Denso Corp., Key Safety Systems Inc., Tokai Rika Co. Ltd., and Toyoda Gosei Co. Ltd.

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